Novo Holdings A S Buys 40,000 Shares of BioMarin Pharmaceutical Inc. (NASDAQ:BMRN)

Novo Holdings A S increased its stake in BioMarin Pharmaceutical Inc. (NASDAQ:BMRN - Free Report) by 8.9% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 490,000 shares of the biotechnology company's stock after purchasing an additional 40,000 shares during the quarter. BioMarin Pharmaceutical makes up approximately 2.0% of Novo Holdings A S's portfolio, making the stock its 15th biggest holding. Novo Holdings A S owned 0.26% of BioMarin Pharmaceutical worth $40,342,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Innealta Capital LLC purchased a new position in BioMarin Pharmaceutical in the 2nd quarter valued at approximately $25,000. BOKF NA purchased a new position in BioMarin Pharmaceutical in the 2nd quarter valued at approximately $31,000. Quent Capital LLC grew its stake in BioMarin Pharmaceutical by 58.9% in the 2nd quarter. Quent Capital LLC now owns 391 shares of the biotechnology company's stock valued at $32,000 after buying an additional 145 shares in the last quarter. Jones Financial Companies Lllp purchased a new position in shares of BioMarin Pharmaceutical during the 4th quarter valued at $43,000. Finally, Itau Unibanco Holding S.A. purchased a new position in shares of BioMarin Pharmaceutical during the 2nd quarter valued at $47,000. Institutional investors own 98.71% of the company's stock.

Analysts Set New Price Targets

A number of research firms have recently commented on BMRN. William Blair upgraded shares of BioMarin Pharmaceutical to a "strong-buy" rating in a research report on Friday, August 30th. StockNews.com upgraded shares of BioMarin Pharmaceutical from a "hold" rating to a "buy" rating in a research report on Thursday, August 8th. Bank of America reduced their price target on shares of BioMarin Pharmaceutical from $130.00 to $115.00 and set a "buy" rating for the company in a research report on Tuesday, September 17th. Stifel Nicolaus cut their target price on shares of BioMarin Pharmaceutical from $115.00 to $87.00 and set a "buy" rating for the company in a research report on Tuesday, September 17th. Finally, Wells Fargo & Company cut their target price on shares of BioMarin Pharmaceutical from $115.00 to $90.00 and set an "overweight" rating for the company in a research report on Tuesday, September 17th. Seven research analysts have rated the stock with a hold rating, fourteen have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, BioMarin Pharmaceutical presently has a consensus rating of "Moderate Buy" and an average target price of $98.84.

BioMarin Pharmaceutical Trading Down 0.4 %

Shares of NASDAQ BMRN traded down $0.29 during midday trading on Monday, hitting $70.29. 1,416,534 shares of the company traded hands, compared to its average volume of 1,907,514. BioMarin Pharmaceutical Inc. has a 12-month low of $67.75 and a 12-month high of $99.56. The company has a debt-to-equity ratio of 0.11, a quick ratio of 1.95 and a current ratio of 3.05. The stock has a 50-day moving average price of $83.79 and a 200 day moving average price of $83.60. The firm has a market cap of $13.35 billion, a P/E ratio of 65.69, a P/E/G ratio of 0.80 and a beta of 0.32.

BioMarin Pharmaceutical (NASDAQ:BMRN - Get Free Report) last announced its quarterly earnings results on Monday, August 5th. The biotechnology company reported $0.77 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.38 by $0.39. The company had revenue of $712.03 million for the quarter, compared to analysts' expectations of $660.51 million. BioMarin Pharmaceutical had a net margin of 9.91% and a return on equity of 6.91%. As a group, analysts expect that BioMarin Pharmaceutical Inc. will post 2.39 earnings per share for the current year.

BioMarin Pharmaceutical Company Profile

BioMarin Pharmaceutical Inc develops and commercializes therapies for people with serious and life-threatening rare diseases and medical conditions. Its commercial products include Vimizim, an enzyme replacement therapy for the treatment of mucopolysaccharidosis (MPS) IV type A, a lysosomal storage disorder; Naglazyme, a recombinant form of N-acetylgalactosamine 4-sulfatase for patients with MPS VI; and Kuvan, a proprietary synthetic oral form of 6R-BH4 that is used to treat patients with phenylketonuria (PKU), an inherited metabolic disease.